311 West 1st Street, North Vancouver, BC, V7M 1B5 d: 604.998.1250 f: 604 998 1253 e: [email protected] web: www.liononemetals.com
LION ONE EXTENDS MINERALIZATION AT TUVATU GOLD
PROJECT, FIJI
Intersects 16.15 g/t Gold over 3.78 m (including 248 g/t over 0.09 m)
And 23.03 g/t Gold over 7.49 m (including 855 g/t Over 0.17 m)
Vancouver, B.C., September 6, 2012. Lion One Metals Limited (TSX-V: LIO) (FSE: LY1) (LOMLF:
OTCQX) (the “Company” or “Lion One”) is pleased to report complete assay results for its first two drill holes
from its diamond drilling program at the Tuvatu Gold Project on the island of Viti Levu in Fiji.
The results confirm lateral continuity of the east-west trending Murau Lodes, intersecting down dip mineralization
along strike 80 meters to the west. Notable intersections include 16.15 g/t gold over 3.78 meters at 121.99 meters
depth from TUDDH-347, and 23.03 g/t gold over 7.49 meters at 155.05 meters depth from TUDDH-348. These
intervals include bonanza grades of 248 g/t gold over .09 meters from TUDDH-347, and 855 g/t gold over 0.17
meters from TUDDH-348. Extensions of these lodes have been mapped at surface along strike up to 1,330 meters to
the west of the Tuvatu resource area (see news release dated May 7, 2012 for reference).
Assays are pending for results from four other completed holes, including two holes drilled near the Tuvatu portal
that tested mapped extensions of the north-south trending UR lodes. A second drill rig has been mobilized to the
Tuvatu property.
Tuvatu Drilling Locations
311 West 1st Street, North Vancouver, BC, V7M 1B5 d: 604.998.1250 f: 604 998 1253 e: [email protected] web: www.liononemetals.com
Initial 2012 Drilling Results
Drill Hole Azimuth Dip From (m) To (m) Interval (m) True Width (m) Au (g/t) Zone
TUDDH347 360 75 61.24 62.24 1.0 0.96 0.52 Murau 2
91.5 93.2 1.7 1.63 2.76 Murau 2
103.82 105.1 1.28 0.85 1.74 Murau 1
121.99 125.77 3.78 2.51 16.15 Murau 1
Including 124 124.09 0.09 0.06 248 Murau 1
132.33 134.47 2.14 1.42 2.11 Murau 1
145.1 147.1 2 1.33 0.68 M1/Snake
TUDDH348 360 85 86.78 87.78 1 0.66 1.01 Murau 2
149.69 149.85 0.16 0.11 47.1 Murau 2
155.05 162.54 7.49 4.97 23.03 Murau1
Includes 155.05 159.69 4.64 3.08 3.38 Murau 1
And 161.37 161.54 0.17 0.11 855 Murau 1
167.3 167.86 0.56 0.37 4.57 Murau 1
175.6 177.72 2.12 1.41 1.76 Snake
Notes 1) Lower cutoff grade of 0.50 g/t Au; no upper cutoff applied
2) Up to 0.6 meters of consecutive samples of internal waste included in an interval
Previous drill results from the Murau 1 and 2 Lodes:
Drill Hole From (m) To (m) Interval (m) Au (g/t) Zone
TUDDH-069 96.00 97.70 2.70 5.93 Murau 1
TUDDH-056 93.20 95 1.80 23.15 Murau 1
TUDDH-219 84.00 88.10 4.10 7.53 Murau 1
TUDDH-225 100.15 102.50 2.35 15.42 Murau 1
TUG-056 103.60 105.65 1.65 26.82 Murau 2
TUG-102 104.80 110.00 5.20 4.13 Murau 2
About Tuvatu
Tuvatu is situated on the Viti Levu Lineament; a north-west trending belt hosting Fiji’s known gold deposits,
including the 11 million ounce Vatukoula gold deposit, located approximately 50 km to the northwest along the
regional trend. Low sulphidation, epithermal gold veins at Tuvatu occur along the margins of the eroded Navilawa
volcanic center in a multi-phase geologic environment. The Fijian Islands themselves are situated along the highly
mineralized Pacific Islands Arc, the host of a number of major deposits that include Lihir, Porgera, Ok Tedi, and
Wafi-Golpu. The Tuvatu Project currently contains a mineral resource of 652,000 ounces gold (consisting of
172,000 oz. Au indicated, 480,000 oz. Au inferred).
311 West 1st Street, North Vancouver, BC, V7M 1B5 d: 604.998.1250 f: 604 998 1253 e: [email protected] web: www.liononemetals.com
Technical Information and Qualified Persons
The assay analyses performed during Lion One’s drilling programs are subject to a formal quality assurance and
quality control (QA/QC) program. Diamond drill core was logged and sampled on site at Tuvatu by Company staff
with samples delivered by the Company to the facilities of Australian Laboratory Services (ALS) Pty. Ltd., an
independent accredited analytical laboratory. Samples are first prepared and crushed at the ALS facility in Suva,
Fiji, before being shipped to Brisbane, Australia for assay analysis. Samples are subjected to fire assay with atomic
absorption finish for gold and 33 elements, four acids, and Inductively Coupled Plasma Spectrometry (ICP-AES).
Standard reference materials, blanks, and field duplicates samples are inserted prior to shipment from site to monitor
the quality control of the data. Samples with higher grade gold (greater than 3 grams per tonne) are reassayed using
a gravimetric and/or pulps and metallic procedure. The Company’s exploration team planned and executed the 2012
drilling program under the supervision of Lion One’s Vice President of Exploration, Mr. David Pals. The content of
this news release has been reviewed by Mr. Darcy Krohman, P.Geo, a Qualified Person for the purposes of National
Instrument 43-101.
On Behalf of the Board of Directors For further information contact:
“Walter H. Berukoff” Investor Relations
Chairman of the Board Tel: 604-998-1250
Lion One Metals Limited Fax: 604-998-1253
www.liononemetals.com [email protected]
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accuracy of this release.
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results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s
current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals
Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects
being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior
exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be
materially different from those expressed or implied by such forward-looking information. Such risks and other factors may
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uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to
receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and
availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of
economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has
attempted to identify important factors that could cause actual results to differ materially from those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update
any forward-looking information, except in accordance with applicable securities laws.